As I promised in an April blog, my article, The Pitfalls of Objectively Measured Just Compensation: When Market Value Isn’t Enough, is now published in The Practical Real Estate Lawyer’s September 2024 issue.
In the article, I discuss why compensating displaced property owners based on the fair market value of their property shortchanges them. I advocate for a multiplier based on the average difference between property owners’ subjective value of their home and its fair market value that would, on average, fairly compensate property owners and incentivize condemnors not to take property when the owners’ subjective losses exceed the value of the public project.
If you are interested, you can read the full article by clicking here.
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